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Food Industry Focuses on Economy, Demand

By Dan Flynn and Suzanna Schreck

The Consumer Goods Forum (TCGF) released its latest Top of the Mind Survey results Thursday.  The survey reveals the priorities of over 345 key decision makers in the global retail and consumer goods companies across 46 countries.

Conducted on a biannual basis, the most recent Top of the Mind found that while the economic environment and consumer spending patterns remain the number one focus of over half the respondents, corporate responsibility has moved up the overall rankings from third to second place in 2010. 

Competitive landscape also rose to priority number three as respondents indicated an increased urgency among retail and consumer goods companies to compete and win in a spending landscape dominated by frugality and restraint.

Upon reviewing the survey results, the TCGF's Director Jean-Marc Saubade remarked, "These findings demonstrate that, faced with a discount mindset that may prevail beyond the recession, the consumer goods industry has recognized this prime opportunity to inspire consumers again."

Remaining in fifth place on the overall rankings was retail-supplier relations, covering issues including trade costs, pricing, and collaboration.  However, differences lie between retailers and manufacturers on the importance placed on this area.  Retailers ranked it as eighth while manufacturers ranked it second on the list of priorities.

On the consumer side, Saubade said, "Consumers now expect high quality at low prices, and the drive to meet their needs is fostering tremendous innovation from brands and in retail formats."

Saubade also commented, "Meanwhile, it is encouraging to see that corporate responsibility has not only withstood the pressures of the economic crisis, but has even risen up the rankings this year - proof that its influence on the corporate agenda is here to stay."

In order to help all parties and meet consumer needs, The Consumer Goods Forum puts emphasis, on an even-handed basis, on the opportunity to collaborate and work together on non-competitive industry issues and process improvements.

For more information or to obtain a copy of the full report, contact The Consumer Goods Forum via their website.

Full post as published by Food Safety News on March 06, 2010 (boomark / email).